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Bula 'shuts book' on hopes

OMAR YAZIGI, the sole remaining director of Bula Resources, has claimed negative media attention played a crucial role in the company’s slide into liquidation. “If the company could have escaped the constant stream of criticism for a time, it might have been easier to raise money,” he said.

Yazigi, who is preparing Bula’s statement of affairs for filing to the High Court in Dublin tomorrow, had hoped to satisfy creditors. But Computershare (Ireland), the company’s share registrar, who eventually ran out of patience last month after Bula had repeatedly failed to repay a €200,000 debt, petitioned for liquidation.

Con Casey, Bula’s former company secretary, said he had “shut the book” on the whole affair and dismissed any hopes of a white knight coming to the rescue. The statement of affairs estimates the assets and liabilities of the liquidated company and will be used to assess whether the directors acted with